Here's an interesting look at the Moscow property market, courtesy of the Moscow Times. How do you value property in a market that's still relatively new and reliant on new buyers accepting the asking prices of developers? Supply and demand takes a little time to kick in and find it's mean... and even when it does... well... look at London. More interesting, perhaps, is that different Moscow neighbourhoods appear to be still in the process of discovering their status. Look at this:

Increasingly, pensioners and low-income families will trade in their apartments in prestigious regions for larger apartments farther from the center. She predicted that neighborhoods like London's Belgravia and New York's Upper East Side would emerge in Moscow as income and class begin to determine where people live. "There are still dilapidated buildings in the 'golden mile.' Old ladies living in 1960s concrete block buildings between Ostozhenka and Prechistenka on state pensions are overwhelmed when developers come offering $8,000 per square meter," Nadezhda Arkhipova from the KRT development group said.